11:28 - 4.10.2024
October 4, Fineko/abc.az. Rice prices in Asia have fallen by the highest amount in the last 16 years, as concerns about supplies weakened after India eased some export restrictions.
ABC.AZ reports, referring to Bloomberg, that according to the Thai Rice Exporters Association, prices for Thai white rice of 5% purity - the Asian benchmark — fell on Wednesday, October 2, by about 11% to $509 per ton. This turned out to be the most significant drop in value since May 2008.
Last year, the price of rice rose after India, the largest supplier, imposed export restrictions to curb local prices ahead of elections. At that, this Asian country has recently eased some restrictions following recent national surveys, a move that could help reduce domestic surpluses and cut import costs for countries such as Indonesia and Senegal.
